Crown Flour Mill is Most Active Corporate in FX Futures Market

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By Dipo Olowookere

A wheat milling company in Nigeria, Crown Flour Mill Limited, has been named the Most Active Corporate in the FX Futures Market.

The subsidiary of Olam Group company beat two other contenders to the award in the domestic (non-bank) category at the 2020 Financial Market Dealer Quotation (FMDQ) Gold Awards held last Friday.

“The FMDQ Gold award underlines our commitment to the Nigerian market and similarly, Crown Flour Mill’s commitment to operational excellence which is a key enabler delivering top quality and affordable food products for Nigerian households and the economy at large,” the Chief Financial Officer of Crown Flour Mill, Mr Sudhir Goenka, commented.

“We are truly honoured by this recognition and more so, for this award for excellence at the FMDQ Gold Awards. Such a noteworthy award will in no small measure motivate us to raise the bar even higher and trigger the appetite for more successes in the coming years,” he added.

The Head of Treasury at Olam Nigeria Limited, Niraj Shah, while also commenting, stated that, “The award is a testament to the commitment of Olam Group to the Nigerian market and our intent of fostering development across the nation’s food and agricultural value chain, while also contributing to the growth of the economy.”

Currently, in its third year, the FMDQ Gold Awards recognises principal market participants who have demonstrated excellence and diversity in the fixed income, foreign exchange and derivatives markets; driving development through their activities and raising the standards of the domestic integrated financial market.

“The FMDQ has an agenda which is an acronym for global competitiveness, operational excellence, liquidity and diversity.

“Those four words are pretty much how FMDQ measures the work being done in the financial market, and how it intends its stakeholders approach the market to be able to compete in the international market,” the Group Chief Operation Officer at FMDQ Group, Ms Kaodi Ugoji, said.

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